We consider a model with two competing private TV-channels producing each,
at a ﬁxed cost F, a separate program which consists of a mixof entertain-
ment (sports, varieties, ...) and culture (classic music, theater, movies, a.s.o.).
The two companies also sell advertising time to announcers to promote their
products or the products of their customers. For each channel, the total broad-
casting time, programs plus advertising, is equal to T.
TV-viewers have varying tastes for the “program-mixes” oﬀered by the